Mon 8 Jun 2009
Dollar assets are safe …
Posted by Prieur du Plessis under Humor
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June 8th, 2009 at 2:43 pm
So Geithner tells the Chinese their dollar holding are safe. Is he going to say anything otherwise unless he’s totally inept? The Us will devalue their dollar if and when it suits them to do so and totally without warning.
So far it appears a stalemate - neither side can get out of the situation without destroying their position. But the Chinese shot across the US bow is a reminder that they’re not asleep and not total idiots.